Sunday, December 10, 2023

Medtech and biomanufacturing fuel life sciences growth. states JLL

  

Maddie Holmes

CHICAGO, IL – The medtech and biomanufacturing sectors are driving new growth in the life sciences industry. As a result, the key markets that house medtech and biomanufacturing clusters are flourishing, presenting new opportunities for commercial real estate investors and life sciences occupiers in places where science and innovation meet.

 

The prospects and growth potential within the medtech and biomanufacturing sectors in relation to life sciences real estate are numerous,” said Travis McCready, Head of Life Sciences, Americas Markets, JLL.

 

 “Medical device and testing companies hold a prominent position within the life sciences industry, and biomanufacturing plays a crucial role in the lifecycle of therapeutic companies.

 

"Considering the substantial investments required and the crucial role of manufacturing operations in a company's success, it is crucial to carefully select locations and sites that offer long-term value and optimal utilization.”

 

The federal government is boosting the growth by investing heavily in medtech and biomanufacturing through the CHIPS and Science Act by designating 31 communities across the U.S. as Regional Innovation and Technology Hubs.


Travis McCready

New areas of opportunity in life sciences provides avenues for stablished medtech and biotech companies to strategically select long-term markets for research and development growth, and startups seeking to scale or smaller companies looking to expand, also have an advantage when it comes to site selection.

 

“Beyond the major clusters, several emerging markets across the United States offer unique advantages, including access to talent, lower costs and supportive local environments,” said Maddie Holmes, Senior Research Analyst, Life Sciences Industry Insight and Advisory, JLL.

 

"Startups can explore these alternative markets to establish their presence and tap into local resources.”

 

Understanding the specific requirements of medtech and biomanufacturing companies and catering to their needs are essential for capitalizing on this evolving market and creating a thriving life sciences ecosystem.

 

 

Contact:


Kimberly Steele

PR, Occupier

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

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